Monday 10 June 2019 / 9:25 AM Economy / John McDonnell

Government is resembling a business entering administration – John McDonnell responds to GDP contracting

John McDonnell MP, Shadow Chancellor, commenting on GDP contracting by 0.4% in April, said:

“The whole country is hurting while the Tory leadership candidates compete on tax cuts for high earners.

“With GDP going backwards over two consecutive months, this government is resembling a business entering administration.

“Wages, investment and productivity are all stagnant – and only Labour’s plan for a £10 per hour Real Living Wage, National Transformation Fund and regional industrial strategy will deliver the sustainable growth we need to turn this ailing economy around.”